THE NEW “CYPRUS INVESTMENT PROGRAMME”

On June 15th, 2018, and based on the decision numbered 81.292 and 84.068 dated 13/09/2016 and 09/01/2018, the following amendments to the scheme have been decided and approved by the Council of Ministers:

• The program of Cyprus Citizenship by Investment programme will be renamed to “Cyprus Investment Programme”;

• All applications for the Cyprus Investment Programme should be submitted on behalf of the applicant(s) by natural/legal persons whose name is included in the registry of certified service providers supervised by the newly created Supervisory and Control Committee;

• All certified service providers should comply with the newly established Code of Conduct of the Cyprus Investment Programme.

• A maximum limit of 700 applications per year will take effect from 2018. Note that this figure applies to the number of main applicants and does not include family members of the applicant;

• The investor is obliged to maintain the investment property for a period of 3 years. In cases where the investment of property/ies is under construction, the investment period will commence from the issuance of the town planning permit of the property;

Please note that MPC Legal is a Registered Service Provider of the Cyprus Investment Programme with registry number 175

Please refer to our brochure click here for complete details on the terms of the Cyprus investment programme and the procedure required for an application for a Cyprus passport under the Cyprus investment programme.

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